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LEGO Group: Revenue growth of 13% and profit growth of 10% in 2024 are both record highs
Golden Ten Data on March 11, Lego Group released its 2024 annual financial report, the company's revenue in fiscal 2024 increased by 13% year-on-year in fiscal 2023 to 74.3 billion Danish kroner, and sales increased by 12%; Operating profit increased by 10% to DKK 18.7 billion and net profit increased by 5% to DKK 13.8 billion. The LEGO Group's revenue and operating profit reached record highs for the year. The company said revenue growth was mainly driven by strong demand in the Americas, Europe and the Middle East, while retail sales rose 12 percent, far outpacing the overall toy market, which fell 1 percent. At the same time, the LEGO Group said that free cash flow in FY2024 was DKK 10.2 billion, with cash flow from operating activities increasing by 24%, which can support investments in new factories and facilities in places such as Vietnam and the United States.